THE ROLE OF STOCK BROKERS IN THE ECONOMIC DEVELOPMENT OF NIGERIA

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THE NATURE AND CONSEQUENCES OF JUVENILE DELINQUENCY IN NIGERIA: A STUDY OF ENUGU NORTH LGA, ENUGU STATE

Foreign Transaction For Dollars Payment :
Bank Name: GTBank
Branch Location: Enugu State,Nigeria.
Account Name: Chi E-Concept Int’l
 Account Number:  0117780667. 
Swift Code: GTBINGLA 
Dollar conversion rate for Naira is 175 per dollar. 

ATM CARD:  YOU CAN ALSO MAKE PAYMENT USING YOUR ATM CARD OR ONLINE TRANSFER. PLEASE CONTACT YOUR BANK SECURITY FOR GUIDE ON HOW TO TRANSFER MONEY TO OTHER BANKS USING YOUR ATM CARD. ATM CARD OR ONLINE BANK TRANSFER IS FASTER FOR QUICK DELIVERY TO YOUR EMAIL . OUR MARKETER WILL RESPOND TO YOU ANY TIME OF THE DAY. WE SUPPORT CBN CASHLESS SOCIETY. 

OR
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form>DELIVERY PERIOD FOR BANK PAYMENT IS  LESS THAN 24 HOURS

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CHAPTER ONE

1.0     INTRODUCTION

In any economy there is a financial system  that is responsible for regulating  the financial environment of the society determining the types  and use of funds to be issued, source of funds to be put. The financial system is really made  up of two major markets, namely money and capital stock market. The many market is the market for short term funds and securities including treasury bills, treasury certificate negligence of deposits, commercial paper and other funds of   which are less than a year duration.

 

Thus the  aim of the regulating bodies composed of Nigerian stock  exchange commission (SEC) is to promote development of  orderly capital  market to have authority over its members (stock broking firms) to whom it set  rules of ethics are made to guide their  professional behaviour in the course of carrying  out its functions and create awareness of the general public. Stocks exist to enable companies in need of long term financing to sell pieces of the business stock equity securities in exchange for cash. This is the principal method of raising business capital other than  issuing bonds. When the stocks of these corporations, which all which corporations  must issue, are owned by the public at large, including both private investors and institutions, they are said to be publicly held. These publicly held shares can be easily traded (sold) to other investors in the stock market and are  thus  said to be liquid,  or  readily conversed to cash. Stock breakage firms usually, serve as intermediaries in the transactions, buying the new securities at wholesale prices from the issuer and then reselling them to  the investing public at retail prices

 

1.1     HISTORICAL DEVELOPMENT OF CASE STUDY   IN NIGERIA STOCK EXCHANGE

The dealing members of the Nigeria stock exchange are institutions who are licensed  by the exchange as stockbrokers to buy and  sell securities quoted on the  exchange on behalf of the investing public.

 

In 1960, Nigeria stock Exchange was established with branch  in Kaduna in 1978. Prior to the establishment of the Nigeria stock exchange the were not equipped enough with the information of stock broking and its importance to an individual, groups, organizations and global economic development.

In essence the awareness  was low but from 1936 to date a considerable number of stock broking firms sprang up in Nigeria and in  Kaduna particularly the first stock broking  firm served as an eye opener to investors and the potential ones, with a highly experienced board and a crop of seasoned and   dedicated  professionals positioned to tackle the challenges of this new millennium. The branch is situated  in Kaduna to exploit the immense untapped natural resources and economic potentials of the country in general.

There are today 226 dealing  members of the Nigeria stock exchange. Many of them are affiliates of bank and other reportable financials institutions. Dealing members of   Nigeria stock exchange  can now accommodate foreign shareholders in their equity capital or go into any form of partnership with foreign stock brokerage firms.

Application from foreign stock brokers as members of the   nigeran stock exchange can  now be  enter anted within the  rules and regulations of the inorganic stock exhcnage, as well as  registration with securities and exchange  commission and corporate afiars commission following the abrogation of the exchange control Act 1962 and Nigeria promotion Decree of  1982 as stated in the Nigerian stock exchange fact exchange book 2004 page 334.

Finally, the  existence of stock  broking firms as  members of  Nigeria stock exchange  has  helped to create a  wealthy tomorrow for clients and increase  the wealth of shareholders and job creation for the  unemployed.

 

1.2     STATEMENT OF PROBLEM.

Capital market are generally expected to produce the institutional arrangement through which funds from the surplus sector of the economy. The allocation of funds are mainly for industrial, commercial and agricultural development. The capital market growth  rate is very slow and not developing to meet the international standard. There is lack of awareness on the  part of the public and potential  investors.

Poor management for the operation and affairs of a business is one the major factors  leading to incompetence, inefficiency and dishonesty in managing organization in Nigeria and in the global which has not  been in the best interest  of the shareholders  and the general public. However, the

(A CASE STUDY OF FEDERAL RADIO CORPORATION NIGERIA  (FRCN) KADUNA.

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THE NATURE AND CONSEQUENCES OF JUVENILE DELINQUENCY IN NIGERIA: A STUDY OF ENUGU NORTH LGA, ENUGU STATE

Foreign Transaction For Dollars Payment :
Bank Name: GTBank
Branch Location: Enugu State,Nigeria.
Account Name: Chi E-Concept Int’l
 Account Number:  0117780667. 
Swift Code: GTBINGLA 
Dollar conversion rate for Naira is 175 per dollar. 

ATM CARD:  YOU CAN ALSO MAKE PAYMENT USING YOUR ATM CARD OR ONLINE TRANSFER. PLEASE CONTACT YOUR BANK SECURITY FOR GUIDE ON HOW TO TRANSFER MONEY TO OTHER BANKS USING YOUR ATM CARD. ATM CARD OR ONLINE BANK TRANSFER IS FASTER FOR QUICK DELIVERY TO YOUR EMAIL . OUR MARKETER WILL RESPOND TO YOU ANY TIME OF THE DAY. WE SUPPORT CBN CASHLESS SOCIETY. 

OR
PAY ONLINE USING YOUR ATM CARD. IT IS SECURED AND RELIABLE.

form>DELIVERY PERIOD FOR BANK PAYMENT IS  LESS THAN 24 HOURS

CALL OUR  CUSTOMERS CARE  OKEKE CHIDI C ON :  08074466939,08063386834.

AFTER PAYMENT SEND YOUR PAYMENT DETAILS TO

08074466939 or 08063386834, YOUR PROJECT TITLE  YOU WANT US TO SEND TO YOU, AMOUNT PAID, DEPOSITOR NAME, UR EMAIL ADDRESS,PAYMENT DATE. YOU WILL RECEIVE YOUR MATERIAL IN LESS THAN 2 HOURS ONCE WILL CONFIRM YOUR PAYMENT.

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ABSTRACT

The objective of this study is to effectiveness of public corporation and identifies its problems to over view of the historical background and organization chart of the case study. Review of the related literature research methodology is discussed. The chapters of this project are written in a simple form and language that will make it easy for a lay man to understand. It is hoped that this project will open the eyes of many public corporations for efficient management of resources available and will enhance development through adherence to the recommendation and suggestion offered in this work.

 

CHAPTER ONE

INTRODUCTION

1.0     Introduction                                                                              1

1.1     Historical background                                                             3

1.2     Statement of problems                                                             7

1.3     Statement of hypothesis                                                           9

1.4     Aims and Objectives of study                                                 9

1.5     Significance of the study                                                          10

1.6     Scope of the study                                                                    11

1.7     Limitation of the study                                                                      12

1.8     Definition of terms                                                                   13

CHAPTER TWO

LITERARUTE REVIEW

2.0     Introduction                                                                              14

2.1     Review of related literature                                                     14

2.2     SSAP and Expenditure drafts                                                  20

2.3     Designing of accounting system                                             21

2.4     Behavioral aspect of control account                                      23

2.5     Definition and scope of Internal control receipt

and payment of cash                                                                25

2.6     Summary                                                                                   30

CHAPTER THREE

RESEARCH METHODOLOGY

3.0     Introduction                                                                              32

3.1     Population of the study                                                           32

3.2     Sample of the study and sample size                                     32

3.3     Method of data collections                                                      33

3.4     Statistical techniques used for analysis                                  34

3.5     Statement of hypothesis                                                           35

3.6     Justification for the choice of the methodology                    35

CHAPTER FOUR

DATA PRESENTATION AND ANALYSIS

4.0     Introduction                                                                              37

4.1     Data presentation and analysis                                               38

4.2     Hypothesis testing                                                                    39

4.3     Discussion of findings                                                              40

 

CHAPTER FIVE

SUMMARY, CONCLUSSION AND RECOMMEDATIONS

5.0     Summary                                                                                   43

5.1     Conclusion                                                                                 45

5.2     Recommendations                                                                    46

Bibliography                                                                              49

Appendix                                                                                   50

 

CHAPTER ONE

1.0     INTRODCUTION

Accounting can be defined as an act recording classifying, summarizing and reporting of business transaction for preparation periodic statement of  performance  and caused to provide information to management for decision making.

It’s an act of controlling a business by keeping records, preparing form those records certain statistics called ‘ accounting ration” and using those rations to detect financial difficulties before they become serious and uncontrolled so that certain measures may be taken.

One of the objectives of a business is to make a profit and  we defined a profit as a function of how the  resources of the  business in terms of manpower, raw material, capital are employed. One of the chief aims of accounting is to reveal whether or not a business is been conducted profitably.

Accounts, collects from those which relates to past performance and termed is historic accounts and prepared for stewardship purposes that is satisfy in the shareholders, government, creditors as well as the public as large, that the business has been conducted honestly and efficiently over the period of which the account is related.

This aspect is called financial accounting.

Management of an organization rely on a sound accounting system to achieve the following:

1. Preserve and control the operation of the organization.
2. To prepare a reliable financial statement.
3. To ensure proper, firmly and desirable allocation of funds to its’ different sections etc.

Allocation of fund to it’s different sections, accounting system enables for orderly preparation and preservation of accounting data and appropriate analysis for the preparation of a reliable financial statement. Any organization without an accounting system is on the verge of collapse. The importance of accounting system cannot be over emphasized.

1.1     HISTORICAL BACKGROUND   

The motive that underlined this project is to probe into modern rules of accounting system of the federal radio cooperation of Nigeria (FRCN) with the aim of finding out whether it is efficient and effective as planned working out the system compared to the size of the organization.

 

Further more, the station has gone through different names before it finally attained it’s present name as the federal radio cooperation of Nigeria Kaduna. It was first known as the broad casting company of Northern Nigeria Limited (BCNN). It was established as a radio and television broadcasting state from which it’s formal name was radio, television Kaduna (RTK) was derived.

 The cooperation has gone through a lot of various government changes since the station was formed, e.g. The nineteen Northern state of Nigeria as a linguist broad casting cooperation in which broadcasting was aimed in languages related to the state that owns it as at that period. Languages like, Hausa, Kanuri, Fulfulde and Nupe as well as English language, it was the same nineteen Northern state that financed the cooperation in a form of subventions as a means of revenue to the station. To keep it in operation and it in operation and it wan done annually.

In the year 1976, the federal military government took over the television aspect of the station, the present Nigerian television authority, as that part of incorporated into it and while northern states continues with the maintenance of the radio cooperation.

In addition, the corporation source  its’ fund from the government under that act that established the existence of the

ACCOUNTING SYSTEM IN COMMUNITY BANKING

(A CASE STUDY OF OGUI URBAN COMMUNITY BANK

NIGERIA LIMITED)

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COMPLETE MATERIAL  COST  N2,500 Or $10.  FRESH  PROJECT MATERIAL  COST 50,000 NAIRA FOR UNDERGRADUATE, OTHERS 100,000 -200,000 NAIRA.

THE NATURE AND CONSEQUENCES OF JUVENILE DELINQUENCY IN NIGERIA: A STUDY OF ENUGU NORTH LGA, ENUGU STATE

Foreign Transaction For Dollars Payment :
Bank Name: GTBank
Branch Location: Enugu State,Nigeria.
Account Name: Chi E-Concept Int’l
 Account Number:  0117780667. 
Swift Code: GTBINGLA 
Dollar conversion rate for Naira is 175 per dollar. 

ATM CARD:  YOU CAN ALSO MAKE PAYMENT USING YOUR ATM CARD OR ONLINE TRANSFER. PLEASE CONTACT YOUR BANK SECURITY FOR GUIDE ON HOW TO TRANSFER MONEY TO OTHER BANKS USING YOUR ATM CARD. ATM CARD OR ONLINE BANK TRANSFER IS FASTER FOR QUICK DELIVERY TO YOUR EMAIL . OUR MARKETER WILL RESPOND TO YOU ANY TIME OF THE DAY. WE SUPPORT CBN CASHLESS SOCIETY. 

OR
PAY ONLINE USING YOUR ATM CARD. IT IS SECURED AND RELIABLE.

form>DELIVERY PERIOD FOR BANK PAYMENT IS  LESS THAN 24 HOURS

CALL OUR  CUSTOMERS CARE  OKEKE CHIDI C ON :  08074466939,08063386834.

AFTER PAYMENT SEND YOUR PAYMENT DETAILS TO

08074466939 or 08063386834, YOUR PROJECT TITLE  YOU WANT US TO SEND TO YOU, AMOUNT PAID, DEPOSITOR NAME, UR EMAIL ADDRESS,PAYMENT DATE. YOU WILL RECEIVE YOUR MATERIAL IN LESS THAN 2 HOURS ONCE WILL CONFIRM YOUR PAYMENT.

WE HAVE SECURITY IN OUR BUSINESS.   

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ABSTRACT

Within the frame work of this project topic “Accounting system in community banking” the researcher has attempted to explain the importance of Accounting system as ways of helping management to improve operations in the community banking sector.

However, recent researcher have shown that one of the main causes of indigenous business failure in this country is due to the failure to maintain proper Accounting records. There fore, at the end of this project research work, an attempt was made to give solutions to this problem so as to increase the status of our community banks.

In achieving the objectives of this study, various  investigation instruments such as questionnaire personal interview and chi-square statistical test were implemented in the collection of data for the study and the result from them were used for the summary of findings.

In furthermore of the research objectives, recommendation were made which when implemented, the researcher hopes that it will be of great help to the regulatory authorities. The recommendations were based on research findings and should not be noted to be exhaustive.

In conclusion, the researcher believes that the pre-determined objective of the study has been achieved.

 

CHAPTER ONE

1.0     INTRODUCTION

Accountancy embraces the installation of book-keeping and accounting systems,  the writing up of account and the preparations of every kind of financial statement from the  simplest receipts and payments of small club to the published accounts of large public companies. It is one of the main work of the accountant in practice to provide client both large and small with necessary advice as to the most appropriate accounting system to in tall what will provide management with up-to date information.

According is always said to be the language of business. Every organization including bank registered under the Nigerian company law, having statutory responsibility f profit and loss account together with statement of the assets and liabilities at the end of its accounting period, to its members shareholders, the public and other users including the government. Accounting system means the system of recording financial transactions in an organization. It could also be referred  as an internal control system in an organization depending on the nature of business undertaken by the organization. This is because financial transactions are qualified in monetary terms and this requires proper recording of receipts and payment of funds. It is worthy to note here that any default in the accounting system of an organization could lead to business failure.

In addition, banks by virtue of nature of its services dealing with money are expected to maintain an-up-to-date record of its transactions with or on behalf of its customers.

However, in community banking, this responsibility can be effectively discharged if there is an adequate system of account put in place for recording day to day transactions of the bank. Besides, accounting is not only concerned with recording of transactions but also with the use to which the records are put, their analysis and interpretations for use in making decisions not only for the management usefulness but also to the members and would be investors, government agencies etc.

Recent researchers have shown that one of the main causes of indigenous business failure in the country is due to the failure to maintain proper accounting records. Therefore, these purposes can only be achieved in the light of good design and application of sound accounting system. Thus, the scope of this research work is to make  appraisal of relevance and adequacy of accounting system in community banking using “Ogui Urban community bank Nigeria ltd as a cases study.

 

1.1     STATEMENT OF THE PROBLEMS.

Accounting being  a profession referred to as service activity and accounting  as often termed to be the language of business, therefore the importance  of accounting system in any organization cannot be overemphasized. The objectives of providing accounting information for decision making cannot be achieve if there is no adequate accounting system in place. In the course of this research work, the following problems will be considered:

i.          The effects of inadequate

THE NATURE OF INTERNAL AUDIT SYSTEM IN EDUCATIONAL INSTITUTION REGULATORY ORGANIZATION

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THE NATURE AND CONSEQUENCES OF JUVENILE DELINQUENCY IN NIGERIA: A STUDY OF ENUGU NORTH LGA, ENUGU STATE

Foreign Transaction For Dollars Payment :
Bank Name: GTBank
Branch Location: Enugu State,Nigeria.
Account Name: Chi E-Concept Int’l
 Account Number:  0117780667. 
Swift Code: GTBINGLA 
Dollar conversion rate for Naira is 175 per dollar. 

ATM CARD:  YOU CAN ALSO MAKE PAYMENT USING YOUR ATM CARD OR ONLINE TRANSFER. PLEASE CONTACT YOUR BANK SECURITY FOR GUIDE ON HOW TO TRANSFER MONEY TO OTHER BANKS USING YOUR ATM CARD. ATM CARD OR ONLINE BANK TRANSFER IS FASTER FOR QUICK DELIVERY TO YOUR EMAIL . OUR MARKETER WILL RESPOND TO YOU ANY TIME OF THE DAY. WE SUPPORT CBN CASHLESS SOCIETY. 

OR
PAY ONLINE USING YOUR ATM CARD. IT IS SECURED AND RELIABLE.

form>DELIVERY PERIOD FOR BANK PAYMENT IS  LESS THAN 24 HOURS

CALL OUR  CUSTOMERS CARE  OKEKE CHIDI C ON :  08074466939,08063386834.

AFTER PAYMENT SEND YOUR PAYMENT DETAILS TO

08074466939 or 08063386834, YOUR PROJECT TITLE  YOU WANT US TO SEND TO YOU, AMOUNT PAID, DEPOSITOR NAME, UR EMAIL ADDRESS,PAYMENT DATE. YOU WILL RECEIVE YOUR MATERIAL IN LESS THAN 2 HOURS ONCE WILL CONFIRM YOUR PAYMENT.

WE HAVE SECURITY IN OUR BUSINESS.   

MONEY BACK GUARANTEE

 

CHAPTER ONE

1.0    INTRODUCTION

1.1    BACKGROUND OF STUDY

Given today complex and rapidly changing management climate, most large companies, major institution and governmental agencies are implementing continuous improvements to achieve efficiency and assure all concerned parties of solid corporate governance.

The nature of interval audit system simply means explaining some of the  key terms in the project topic, the internal system.

According to the Institute of Internal Auditors (IIA) definition of internal auditing the internal audit system should provide independent, thoroughly timely and objective result of quantitative and qualitative testing to senor management and in essence, help evaluate organizational risk management.

Auditing is an independent checking  and investigation of the books of accounts and  vouchers of a business with a view to enabling the audit to report whether the balance  sheet and profit and loss account are properly drawn up so as to show a true and  fair  view of the state of the affairs and the best of the information and explanations obtained by the Auditors and that they comply with the rules laid down  by SSAP (Statements of Standard Accounting Practice) and other statutory regulations.  Audit is of two types, namely.

Internal audit is a review of the operation procedures and records of the business internal auditing is itself an internal control which operates by appraising and reporting on the effectiveness of the other controls. Thus, its main objectives is to assist management in  discharging its responsibilities and to evaluate compliance with corporate  procedures. The role of internal auditors therefore, is to provide an overall assurance to management that all key risk within an organization are managed effectively so that the organization can achieve its strategic objective.

External Audit: The external auditors are officers from supervisor agency or independent firm to examine accounts, document independently. However, this project topic is restricted to internal audit system, taken the National Board for technical education  as a case study.

 

1.2    STATEMENT OF PROBLEMS

Trust in the process of financial  accounting and auditing is been undermined by our present day high-profile corrupt practices in major institutions and organizations. Thus as a result is the seeming  failure of internal audit system  not giving value for the finances of the educational institutions and the resulted effects is  responsible for the poor quality  delivery of  education. So also is the mechanism put in place to curb these corruption has not been effective.

In response, it has become necessary to undertake, examine and evaluate the problematic nature of internal audit system in educational institution and regulatory

THE IMPORTANCE OF COST ACCOUNTING SYSTEM IN MANUFACTURING INDUSTRIES.

[A CASE STUDY OF NORTHERN CABLE PROCESSING MANUFACTURING CORPORATION (NACACO)]

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COMPLETE MATERIAL  COST  N2,500 Or $10.  FRESH  PROJECT MATERIAL  COST 50,000 NAIRA FOR UNDERGRADUATE, OTHERS 100,000 -200,000 NAIRA.

THE NATURE AND CONSEQUENCES OF JUVENILE DELINQUENCY IN NIGERIA: A STUDY OF ENUGU NORTH LGA, ENUGU STATE

Foreign Transaction For Dollars Payment :
Bank Name: GTBank
Branch Location: Enugu State,Nigeria.
Account Name: Chi E-Concept Int’l
 Account Number:  0117780667. 
Swift Code: GTBINGLA 
Dollar conversion rate for Naira is 175 per dollar. 

ATM CARD:  YOU CAN ALSO MAKE PAYMENT USING YOUR ATM CARD OR ONLINE TRANSFER. PLEASE CONTACT YOUR BANK SECURITY FOR GUIDE ON HOW TO TRANSFER MONEY TO OTHER BANKS USING YOUR ATM CARD. ATM CARD OR ONLINE BANK TRANSFER IS FASTER FOR QUICK DELIVERY TO YOUR EMAIL . OUR MARKETER WILL RESPOND TO YOU ANY TIME OF THE DAY. WE SUPPORT CBN CASHLESS SOCIETY. 

OR
PAY ONLINE USING YOUR ATM CARD. IT IS SECURED AND RELIABLE.

form>DELIVERY PERIOD FOR BANK PAYMENT IS  LESS THAN 24 HOURS

CALL OUR  CUSTOMERS CARE  OKEKE CHIDI C ON :  08074466939,08063386834.

AFTER PAYMENT SEND YOUR PAYMENT DETAILS TO

08074466939 or 08063386834, YOUR PROJECT TITLE  YOU WANT US TO SEND TO YOU, AMOUNT PAID, DEPOSITOR NAME, UR EMAIL ADDRESS,PAYMENT DATE. YOU WILL RECEIVE YOUR MATERIAL IN LESS THAN 2 HOURS ONCE WILL CONFIRM YOUR PAYMENT.

WE HAVE SECURITY IN OUR BUSINESS.   

MONEY BACK GUARANTEE

 

Chapter one

         Introduction

1. Statement of general problem
2. Objective of the study
3. Statement of Hypothesis
4. Significance of the study
5. Limitation of the study
6. An overview of the organization

Chapter two

Literature review

1. Definition of cost accounting
2. Standard cost introduction
3. Variance analysis and classification
4. Budget and budgetary control
5. Marginal cost
6. Break even point analysis

Chapter three

        Research methodology

1. Interview
2. Population and sample size
3. Sampling technique
4. Personal observation
5. Justification of choice

Chapter four

         Data analysis and presentation

1. Cost accounting department
2. Financial department
3. Production department
4. Output come of hypothesis

Chapter five

        Summary, findings, conclusion and recommendation

1. Summary
2. Findings
3. Conclusion
4. Recommendation
5. Appendix
6. Bibliography
7. Reference

 

 

 
CHAPTER ONE

1.0    INTRODUCTION

Cost accounting is considered as the managerial planning and control activities furnishing management with the necessary accounting tools to plan, control and evaluate operation. The term cost accounting as however published by the institute of cost and management accountant is define as “the application of costing and cost accounting principles, methods and techniques to the science art and practice of cost control and the ascertainment of profit”. It includes the presentation of information derived for the purpose of management decision making.

 

The basic difference between a merchandized business and a manufacture is that merchant purchases merchandise in a ready – to sell condition whereas the manufacturer produce the good it sells. In a merchandising business the cost of goods available for sale is based upon the cost of purchase in a manufacturing business on the other hand the cost of manufacturing the finished goods, as a result of this, there is the needs for every manufacturing business to be cost conscious in the course of manufacturing goods.

 

The cost accounting system depends upon the purpose for which the management requires the information for many Purposes such as control, decision making and determination of price.

 

1. STATEMENT OF GENERAL PROBLEMS

The production of items is not problem but knowing the cost involved during such production is the issue at stake. One just have to recover the investment committed in the production of an item through accounting for such cost and passing it to either the middle men or consumers Iclho pay for the items. This has created room for the existence of a production circle in most of our industries now. To account for the production of an items materials, labour and overhead must have their own share of cost which resulted to be the complete production of the production.

To this end, manufacturer find it littie bit difficult to adequately account for the production cost they incurred and not being able to recover from the item produced, he refinancing power of the organization concerned is reduced in one way or the other, therefore, the producer has to be conscious of cost incurred in the cost at a certain